In anticipation of the upcoming Sustainable Finance Live event scheduled for October 10, 2023, at Events@No6 in London, Finextra recently interviewed several speakers who will address key topics at the conference.
The annual Sustainable Finance Live 2023 aims to convene industry leaders to delve into pressing issues in sustainable finance and strategize for future advancements in the field. Among the speakers is Amandine Tetot, head of project finance at Triodos Bank, who will participate in a session titled “How can we accelerate the delivery of clean and affordable energy?”
Tetot underscored the pivotal role of financial institutions in fostering climate consciousness and driving sustainable initiatives. She stressed the importance of having the right skills and talent to achieve green objectives, advocating for a commitment that goes beyond Environmental, Social, and Governance (ESG) considerations. Financial organizations must also prioritize biodiversity, nature-based risks, and the social implications of their actions and products.
She noted the transformative potential of artificial intelligence (AI) in propelling sustainable finance forward, while also emphasizing the need for ethical standards in AI development and data collection to mitigate bias.
"There is a critical, if not essential, role for AI and data analytics in advancing sustainable finance," Tetot remarked. "From enhancing decision-making processes to integrating climate risk assessments and measuring impacts with greater transparency, the possibilities are expansive. I am particularly excited about the potential to gain a more nuanced and dynamic understanding of sub-sector transition pathways and their effects on financed products and services."
Despite notable advancements in establishing frameworks and channeling resources toward climate initiatives within the financial sector, Tetot acknowledged that further action is necessary to cultivate a genuine culture of climate awareness in organizations.
She also expressed optimism regarding new regulations, particularly the EU taxonomy, which aims to enhance transparency and combat greenwashing in the industry. Nonetheless, she identified challenges that persist within regulatory frameworks, particularly the limited presence of organizations whose activities yield positive societal impacts.
Regarding the emphasis on green energy, Tetot said, "Many in the financial sector are already prioritizing green energy generation. The landscape has evolved significantly in the last decade, and renewable energy is now a well-funded and competitive market. To expedite the deployment of green energy, the financial industry must adopt a broader perspective that includes complementary solutions, services, and technologies alongside its supply chains. Green energy should embody a smarter and more efficient approach to both energy production and resource utilization."
As for future trends, Tetot anticipates a growing focus on nature preservation and the circular economy. "We need to shift our perspective beyond achieving net-zero emissions to embracing a holistic vision for a thriving society and planet," she stated.
Looking ahead to the Sustainable Finance Live conference, Tetot expressed her enthusiasm about connecting with organizations genuinely dedicated to climate action and learning about their successes and challenges.
For more information and to register for Finextra’s Sustainable Finance Live conference, which will gather industry experts to explore strategies for building sustainable cities on October 10, 2023, visit Sustainable Finance Live 2023.